Product Code: ETC4532545 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India micro turbines market import shipment demonstrated robust expansion with a CAGR of 19.1% from 2020 to 2024. However, there was a notable slowdown in growth between 2023 and 2024, with a decline of 28.2%. Overall, the market exhibited strong momentum but showed signs of stabilization towards the end of the period.
The micro turbines market in India is witnessing notable growth as the country focuses on distributed energy generation and energy efficiency. Micro turbines are compact and efficient power generation devices that find applications in various industries and commercial establishments. Their ability to provide combined heat and power (CHP) solutions, along with their low emissions and high efficiency, makes them attractive for businesses and facilities seeking sustainable and cost-effective power solutions. The India government`s efforts to promote energy efficiency and reduce greenhouse gas emissions are bolstering the adoption of micro turbines, positioning them as a key player in India power generation landscape.
The India Micro Turbines market is influenced by the desire for distributed energy generation and cogeneration. Micro turbines offer compact and efficient power generation solutions, making them suitable for a variety of applications. India focus on energy efficiency and sustainability fuels the adoption of micro turbine technology.
The micro turbines market in India faces several challenges. One of the significant challenges is the cost of micro turbine systems, which can be relatively high compared to other distributed power generation solutions. The initial investment required may deter potential users, especially in price-sensitive sectors. Additionally, ensuring a stable and reliable fuel supply for micro turbines, especially in remote or off-grid areas, can be a logistical challenge. Maintenance and the availability of skilled technicians to service micro turbines are also areas of concern. Moreover, the market must address grid integration and regulatory challenges to support the widespread adoption of micro turbine technology in India.
The COVID-19 pandemic impacted the India Micro Turbines Market as industrial activities slowed down, leading to reduced demand for on-site power generation solutions. However, micro turbines offer energy efficiency and backup power capabilities, which are becoming increasingly important for businesses. As industries focus on energy security and sustainability, the micro turbines market is expected to rebound and grow in the post-pandemic period.
Micro turbines are gaining traction in distributed power generation applications. Key players in this market include Capstone Turbine, Bladon, and Ansaldo Energia. These companies offer compact and efficient micro turbine solutions that are suitable for various industries and remote power generation.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Micro Turbines Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Micro Turbines Market Revenues & Volume, 2021 & 2031F |
3.3 India Micro Turbines Market - Industry Life Cycle |
3.4 India Micro Turbines Market - Porter's Five Forces |
3.5 India Micro Turbines Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
3.6 India Micro Turbines Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 India Micro Turbines Market Revenues & Volume Share, By End-User, 2021 & 2031F |
4 India Micro Turbines Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for reliable and clean energy sources in India |
4.2.2 Government initiatives and policies promoting renewable energy adoption |
4.2.3 Growing focus on decentralization of power generation |
4.3 Market Restraints |
4.3.1 High initial investment cost of micro turbines |
4.3.2 Lack of awareness and understanding about micro turbine technology |
4.3.3 Challenges related to grid integration and regulatory framework |
5 India Micro Turbines Market Trends |
6 India Micro Turbines Market, By Types |
6.1 India Micro Turbines Market, By Power Rating |
6.1.1 Overview and Analysis |
6.1.2 India Micro Turbines Market Revenues & Volume, By Power Rating, 2021-2031F |
6.1.3 India Micro Turbines Market Revenues & Volume, By 12??50 kW, 2021-2031F |
6.1.4 India Micro Turbines Market Revenues & Volume, By 50??250 kW, 2021-2031F |
6.1.5 India Micro Turbines Market Revenues & Volume, By 250??500 kW, 2021-2031F |
6.2 India Micro Turbines Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Micro Turbines Market Revenues & Volume, By Combined Heat , 2021-2031F |
6.2.3 India Micro Turbines Market Revenues & Volume, By Power , 2021-2031F |
6.2.4 India Micro Turbines Market Revenues & Volume, By Stand Power, 2021-2031F |
6.3 India Micro Turbines Market, By End-User |
6.3.1 Overview and Analysis |
6.3.2 India Micro Turbines Market Revenues & Volume, By Industrial, 2021-2031F |
6.3.3 India Micro Turbines Market Revenues & Volume, By Commercial, 2021-2031F |
6.3.4 India Micro Turbines Market Revenues & Volume, By Residential, 2021-2031F |
7 India Micro Turbines Market Import-Export Trade Statistics |
7.1 India Micro Turbines Market Export to Major Countries |
7.2 India Micro Turbines Market Imports from Major Countries |
8 India Micro Turbines Market Key Performance Indicators |
8.1 Installation rate of micro turbines in India |
8.2 Growth in number of partnerships and collaborations in the micro turbine industry |
8.3 Percentage increase in research and development investments in micro turbine technology |
8.4 Improvement in efficiency and reliability of micro turbines |
8.5 Adoption rate of micro turbines in off-grid and remote areas |
9 India Micro Turbines Market - Opportunity Assessment |
9.1 India Micro Turbines Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
9.2 India Micro Turbines Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 India Micro Turbines Market Opportunity Assessment, By End-User, 2021 & 2031F |
10 India Micro Turbines Market - Competitive Landscape |
10.1 India Micro Turbines Market Revenue Share, By Companies, 2024 |
10.2 India Micro Turbines Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |